An Apple tablet is reportedly confirmed and set for a launch in Q1 2010. The tablet is pictured here in an artist's rendition, next to an iPhone for perspective. (Source: Apple Insider)

Apple CEO Steve Jobs is reportedly devoting most of his time trying to perfect the new device and push his engineers to create the best product possible. (Source: AP)

Can Apple craft a successful tablet device where others have failed?

When it comes to electronics product
design, few executives or managers are as demanding or as
uncompromising as Apple CEO Steve Jobs. While others have
played arguably more important roles in the technical or artistic
direction of the iPod, iPhone, and unibody MacBooks, it has
consistently been Mr. Jobs that has pushed his engineers to cut the
devices' weight and footprint, all while packing in top
functionality.

Many feared that the iPhone would be his final
opus, when he departed the company with a failing liver.
However, less than a year later, Mr. Jobs is back
in action, and according to the Wall Street Journal, he
has one
thing on his mind -- the new Apple
tablet.

Last October in an earnings call, Mr. Jobs
famously remarked, "We don't know how to make a $500 computer
that's not a piece of junk."

However, that's exactly what
Apple is trying to do, in essence. They're trying to create a
luxury-brand netbook with more power and functionality, that's a
small step up from traditional netbooks in price -- similar to its
business model in the notebook sector that sees it selling
ultralight, long-battery life notebooks for a markup.

Reportedly,
Mr. Jobs is acting as a ruthless and relentless captain, demanding
long hours, efficiency, and secrecy of his employees. This
comes to a shock to many Apple employees who were beginning to enjoy
more freedoms while Mr. Jobs was on leave. States a source at
Apple, "People have had to readjust."

In a brief
email Mr. Jobs reportedly contradicted these comments, telling the
WSJ, "Much of your information is incorrect."

The
new device is reportedly very important to Apple. With iPod
sales slowing, Apple is looking for a new hit to recharge its
lineup and keep the so-called "halo effect" going.
The tablet market -- sparked by Microsoft a decade ago, but with
currently only 1.4 percent PC marketshare -- seems an ideal place to
start.

Reportedly Apple has been working on a tablet for
almost a decade now, first filing a patent in 2000. Mr. Jobs
reportedly killed the project twice due to disappointing battery life
among other things. Now, with the iPhone's development lighting
the way, it appears Apple is finally set to green light the device.
According to the WSJ, Apple may be pressured to release its
tablet at $499 or less, due to the plethora of Windows and Linux
netbooks priced in the same range.

Apple's tremendous secrecy
makes it hard to determine fact from fantasy, but its clear that
something is afoot in Cupertino.

"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer